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Marketable Securities (Tables) | 3 Months Ended
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Mar. 30, 2024
Investments, Debt and Equity Securities [Abstract] |
Schedule of Marketable Securities Classified as Available-for-sale Securities | Marketable securities classified as available-for-sale securities are summarized below:
|  | Available-For-Sale Securities as of March 30, 2024 |
|  | Fair Value Level |  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Value |
U.S. Treasury securities |  | Level 2 |  | $ | 3,446 |  |  | $ | — |  |  | $ | — |  |  | $ | 3,446 |
Agency securities |  | Level 2 |  |  | 20,695 |  |  |  | 21 |  |  |  | (598 | ) |  |  | 20,118 |
Mortgage-backed securities |  | Level 2 |  |  | 37,510 |  |  |  | — |  |  |  | (4,516 | ) |  |  | 32,994 |
Corporate debt securities |  | Level 2 |  |  | 1,111,977 |  |  |  | 732 |  |  |  | (43,402 | ) |  |  | 1,069,307 |
Municipal securities |  | Level 2 |  |  | 296,722 |  |  |  | 49 |  |  |  | (17,069 | ) |  |  | 279,702 |
Other |  | Level 2 |  |  | 3,193 |  |  |  | — |  |  |  | (223 | ) |  |  | 2,970 |
Total |  |  |  | $ | 1,473,543 |  |  | $ | 802 |  |  | $ | (65,808 | ) |  | $ | 1,408,537 |
|  | Available-For-Sale Securities as of December 30, 2023 |
|  | Fair Value Level |  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Value |
U.S. Treasury securities |  | Level 2 |  | $ | 2,971 |  |  | $ | 1 |  |  | $ | — |  |  | $ | 2,972 |
Agency securities |  | Level 2 |  |  | 23,692 |  |  |  | 32 |  |  |  | (585 | ) |  |  | 23,139 |
Mortgage-backed securities |  | Level 2 |  |  | 38,743 |  |  |  | — |  |  |  | (4,731 | ) |  |  | 34,012 |
Corporate debt securities |  | Level 2 |  |  | 1,104,834 |  |  |  | 1,680 |  |  |  | (46,073 | ) |  |  | 1,060,441 |
Municipal securities |  | Level 2 |  |  | 294,240 |  |  |  | 98 |  |  |  | (18,430 | ) |  |  | 275,908 |
Other |  | Level 2 |  |  | 3,760 |  |  |  | — |  |  |  | (423 | ) |  |  | 3,337 |
Total |  |  |  | $ | 1,468,240 |  |  | $ | 1,811 |  |  | $ | (70,242 | ) |  | $ | 1,399,809 |
Schedule of Gross Unrealized Losses and Fair Value by Major Security Type | The following tables display additional information regarding gross unrealized losses and fair value by major security type for available-for-sale securities in an unrealized loss position as of March 30, 2024 and December 30, 2023.
|  | As of March 30, 2024 |
|  | Less than 12 Consecutive Months |  |  | 12 Consecutive Months or Longer |  |  | Total |
|  | Gross Unrealized Losses |  |  | Fair Value |  |  | Gross Unrealized Losses |  |  | Fair Value |  |  | Gross Unrealized Losses |  |  | Fair Value |
Agency securities |  |  | (38 | ) |  |  | 7,919 |  |  |  | (560 | ) |  |  | 6,440 |  |  |  | (598 | ) |  |  | 14,359 |
Mortgage-backed securities |  |  | — |  |  |  | — |  |  |  | (4,516 | ) |  |  | 32,994 |  |  |  | (4,516 | ) |  |  | 32,994 |
Corporate debt securities |  |  | (1,634 | ) |  |  | 153,897 |  |  |  | (41,768 | ) |  |  | 835,475 |  |  |  | (43,402 | ) |  |  | 989,372 |
Municipal securities |  |  | (47 | ) |  |  | 10,640 |  |  |  | (17,022 | ) |  |  | 260,669 |  |  |  | (17,069 | ) |  |  | 271,309 |
Other |  |  | — |  |  |  | — |  |  |  | (223 | ) |  |  | 2,970 |  |  |  | (223 | ) |  |  | 2,970 |
Total |  | $ | (1,719 | ) |  | $ | 172,456 |  |  | $ | (64,089 | ) |  | $ | 1,138,548 |  |  | $ | (65,808 | ) |  | $ | 1,311,004 |
|  | As of December 30, 2023 |
|  | Less than 12 Consecutive Months |  |  | 12 Consecutive Months or Longer |  |  | Total |
|  | Gross Unrealized Losses |  |  | Fair Value |  |  | Gross Unrealized Losses |  |  | Fair Value |  |  | Gross Unrealized Losses |  |  | Fair Value |
Agency securities |  |  | (31 | ) |  |  | 10,923 |  |  |  | (554 | ) |  |  | 6,446 |  |  |  | (585 | ) |  |  | 17,369 |
Mortgage-backed securities |  |  | — |  |  |  | — |  |  |  | (4,731 | ) |  |  | 34,012 |  |  |  | (4,731 | ) |  |  | 34,012 |
Corporate debt securities |  |  | (702 | ) |  |  | 64,637 |  |  |  | (45,371 | ) |  |  | 889,785 |  |  |  | (46,073 | ) |  |  | 954,422 |
Municipal securities |  |  | (32 | ) |  |  | 2,654 |  |  |  | (18,398 | ) |  |  | 261,651 |  |  |  | (18,430 | ) |  |  | 264,305 |
Other |  |  | — |  |  |  | — |  |  |  | (423 | ) |  |  | 3,337 |  |  |  | (423 | ) |  |  | 3,337 |
Total |  | $ | (765 | ) |  | $ | 78,214 |  |  | $ | (69,477 | ) |  | $ | 1,195,231 |  |  | $ | (70,242 | ) |  | $ | 1,273,445 |
Schedule of Amortized Cost and Estimated Fair Value of Marketable Securities by Maturity | The amortized cost and fair value of marketable securities at March 30, 2024, by maturity, are shown below.
|  | Amortized Cost |  |  | Fair Value |
Due in one year or less |  | $ | 279,010 |  |  | $ | 274,579 |
Due after one year through five years |  |  | 1,173,293 |  |  |  | 1,115,240 |
Due after five years through ten years |  |  | 13,661 |  |  |  | 12,512 |
Due after ten years |  |  | 7,579 |  |  |  | 6,206 |
Total |  | $ | 1,473,543 |  |  | $ | 1,408,537 |

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